German luxury sports car manufacturer Porsche reported a 29% drop in sales in China for the first nine months of this year. This follows similar reports of declining sales in China from BMW and Mercedes-Benz. Porsche attributed the slump to weak demand in China and ongoing model changes, leading to a worldwide sales decrease of 7% to 226,026 vehicles.
Among its models, the high-performance sports car Panamera and the all-electric sedan Taycan experienced the most significant declines, with sales falling by 20% and 50%, respectively. A Porsche board member noted that 2024 poses significant challenges due to limited product availability in certain instances.
